Development Finance Review Weekly - February 23, 2023
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Features |
Register Today for the 2023 Federal Policy Conference!
Reserve your spot at the 2023 CDFA Federal Policy Conference on April 11-12, 2023, in Washington, D.C. CDFA, with sponsorship by Ice Miller LLP and the National Development Council, will bring together leaders from the Biden administration, Congress, federal agencies, and the development finance industry to discuss the massive infrastructure investments made by the 117th Congress as well as the development finance challenges that state and local governments continue to face. Space is limited; act fast!
Green Energy Eyed as Fuel for Economic Engine at Stone Center in Wheeling, WV
A project to invest nearly a quarter million dollars into solar panels atop the Stone Center in downtown Wheeling is driven not only by the benefits of renewable energy, but also by an ongoing effort to propel economic development in the heart of the city. The cost of the solar panel installation would be covered by money generated through the city's Tax Increment Financing District.
Join Us for the First Installment of the 2023 CDFA-Bricker Webinar Series!
With the passage of recent legislation, there is a multitude of increased public incentives and financing programs being developed along with existing programs, including PACE financing, which continues to drive investments in sustainable building systems along with other energy assets like utility scale solar. Join us on March 7 at 2:00 PM ET for an overview of the current landscape of public incentives and financing options for green and sustainable assets.
U.S Treasury Announces Three More Capital Project Awards
The U.S. Department of the Treasury announced the approval of high-speed internet projects in Arizona, Tennessee, and Wyoming under the American Rescue Plan's Capital Projects Fund in the American Rescue Plan Act. These states will use their funding to connect nearly 190,000 homes and businesses to affordable, high-speed internet. A key priority of the Capital Projects Fund program is to make funding available for reliable, affordable high-speed internet infrastructure.
North Carolina Projects Awarded $1.4M to Reduce Diesel Vehicle Pollution
North Carolina's coastal counties will see some of the $1.37 million in grants awarded by the state for projects that will reduce air pollution from diesel-powered mobile sources. The North Carolina Department of Environmental Quality's Division of Air Quality announced the Mobile Source Emissions Reduction Grants, which are awarded yearly for projects to replace, retrofit, or repair diesel vehicles and reduce emissions.
Bill Would Expand Economic Development Efforts to Rural Communities in Nebraska
Center for Rural Affairs policy director Johnathan Hladik joined representatives from several economic development organizations to testify in support of Legislative Bill 515 during a public hearing before the Nebraska Legislature's Banking, Commerce and Insurance Committee. The bill would establish the Rural Economic Development Initiative Act, a grant program to help economic development organizations expand services in rural areas.
Federal Program to Aid Hinton Town in West Virginia with Affordable Housing
A town in southern West Virginia is among a small group of municipalities selected for a federal program focused on enhancing small communities and economic development. The Housing Assistance Council (HAC), a national nonprofit that supports affordable housing efforts throughout rural America, announced that the city of Hinton was one of 10 communities selected for the Rural Placemaking Innovation Challenge (RPIC) program.
$59M Investment to Strengthen Food Supply Chain and Rural Economies
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced the Biden-Harris Administration is investing $59 million across the country to increase independent meat and poultry processing capacity, expand market opportunities for farmers, and create jobs in rural areas.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
The Electric Vehicle Industry's Mixed Welcome in The Southeast
States in the Southeast have a mixed message for electric vehicle makers and buyers. New factories to build EVs are celebrated and subsidized by the region's largely GOP-controlled governments. But many of those same governments discourage EV ownership with special taxes levied on owners.
New York City Sets $677.5M GO Bond Sale
New York City is heading to market with the biggest municipal bond deal of the holiday-shortened week, a $677.5M tax-exempt general obligation bond offering that will refund some outstanding debt. Lead managers Siebert Williams Shank, BofA Securities and RBC Capital Markets are set to price the fiscal 2023 GOs for institutions on Wednesday, February 22, after a one-day retail order period Tuesday, February 21.
CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. The Bond Buyer offers CDFA State and Local Members a 55% discount off of the Issuer Rate. Contact CDFA for more information.
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Upcoming Webcasts |
CDFA Food Systems Finance Webinar Series: Bonds & Food Systems
February 28, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, we take a deeper look at a method of financing that has been building infrastructure, industry, and agriculture for over a century and explore its applications within the food system.
CDFA-Bricker Webinar Series: Current Landscape of Public Incentives and Financing Options for Green & Sustainable Assets
March 7, 2023 - 2:00 PM - 4:00 PM Eastern
This installment of the CDFA-Bricker Webinar Series will provide an overview of public incentives and financing programs being developed with the passage of the Bipartisan Infrastructure Legislation and Inflation Reduction Act, along with existing programs - such as PACE financing - that drive investments in sustainable building systems and other energy assets.
CDFA Tribal Finance Webinar Series: Tribal Community-Driven Economic Development Solutions
March 14, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, speakers will discuss how tribal governments and their partner organizations are working collaboratively to drive sustainable economic development.
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Job & RFP Postings |
NDC-CDFI Technical Assistance Coordinator
NDC seeks to add a full-time CDFI Technical Assistance Coordinator whose work will focus on expanding the impact and capacity of our partner CDFIs implementing small business-centric finance initiatives in NDC communities across the United States. The ideal candidate is a capable, experienced, vibrant and engaging professional with excellent organizational and implementation skills, who is customer-obsessed, shares NDC's mission, and will excel within the CDFI industry and NDC's entrepreneurial culture.
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This Week's Headlines |
IRS Issues Guidance for Energy Tax Credits in Low-Income Communities
McGuire Woods | Feb. 16 | Community Development | Economic Development | Energy Finance | Incentives | Tax Credits | U.S. Dept. of Energy (DOE) | U.S. Dept. of Treasury
Pennsylvania Announces Expanded Funding to Grow Farm Businesses
Pennsylvania Pressroom | Feb. 21 | Access to Capital | Agriculture Finance | State Finance Program
USDA Invests $63M in High-Speed Internet for Rural Americans
USDA | Feb. 16 | Access to Capital | Federal | Infrastructure Finance | Legislative | U.S. Dept. of Agriculture (USDA) | Broadband | Legislative Activities
Tallahassee, FL Committee Recommends $7M Loan for Affordable Housing Complex
Tallahassee Reports | Feb. 20 | Bond Finance | Housing Finance
How Three AgTech & FoodTech Startups are Growing With Equipment Financing
AgFunder | Feb. 20 | Access to Capital | Agriculture Finance
Historic Detroit, MI Auto Factory to Be Developed into 161 Housing Units
MLive | Feb. 22 | Economic Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)
Fargo, ND Leaders Approve $4M Property Tax Break for South University Project
InForum | Feb. 21 | Housing Finance | Redevelopment | Tax Increment Finance (TIF)
Stillwater, OK Business Owner Plans Ambitious Redevelopment
Enid News & Eagle | Feb. 21 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
United Launches $100M Plus in Sustainable Flight Fund
Biomass Magazine | Feb. 21 | Energy Finance | Green Finance | Innovation Finance | Energy Efficiency Programs | Entrepreneurial Financing
41-Unit Affordable Housing Complex Unwrapped in Eagle Rock, CO
Urbanize | Feb. 20 | Bond Finance | Housing Finance
Beaufort County, NC Town Receives $1.25M to Begin Industrial Park Construction
WITN | Feb. 20 | Economic Development | Infrastructure Finance | Rural Development | Water Finance
EPA Awards $52.6M for Alabama Water Systems
Montgomery Advertiser | Feb. 20 | Access to Capital | Development Finance Toolbox | Federal | Infrastructure Finance | Legislative | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | Legislative Activities | Drinking Water
Ohio Lawmakers Seek $1B for Rural Highways
Cleveland.com | Feb. 20 | Infrastructure Finance | Rural Development
State Ag Officials Push for On-Time Farm Bill to Fund Slew of Programs
Star Local Media | Feb. 20 | Access to Capital | Agriculture Finance | Federal | Legislative
USDA Invests $15M into Rural North Carolina Academy
WCNC Charlotte | Feb. 20 | Education | Rural Development | U.S. Dept. of Agriculture (USDA)
HUD Announces $3.2B Available for Public Housing
HUD | Feb. 17 | Access to Capital | Housing Finance | U.S. Dept. of Housing & Urban Development (HUD) | Case Studies
Manchin, Capito Announce $902K for Eight West Virginia Rural Development Projects
Joe Manchin | Feb. 16 | Economic Development | Energy Finance | Rural Development | Water Finance
Milwaukee, WI Mayor Plans to Spend $30M on Northwestern Mutual's Downtown Campus
Journal Sentinel Online | Feb. 16 | Community Development | Economic Development | Planning & Land Use
Three Buildings and Water System in Triad Land Funds from North Carolina Rural Grants
FOX 8 | Feb. 16 | Economic Development | Infrastructure Finance | Redevelopment | Rural Development
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National Sponsor Spotlight |
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BNY Mellon
BNY Mellon is the world's leading provider of corporate trust and agency services, administering $28.5 trillion in outstanding debt from 69 locations in 39 countries. Our clients include governments and their agencies, corporations, financial...
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Business Oregon
Business Oregon works to create, retain, expand and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding and support of economic opportunities for Oregon companies and...
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Cirrus Secure
Cirrus provides a cloud-based document collection portal that helps specialty finance agencies streamline their loan and investment processes. Using robotic process automation, Cirrus orchestrates complex workflows to keep all parties engaged and...
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Partner Spotlight |
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The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its website, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...
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CDFA Bookstore |
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Tax Increment Finance Best Practices Reference Guide 2nd Edition
The Tax Increment Finance Best Practices Reference Guide 2nd Edition addresses what TIF is, why it should be used, and how best to apply the TIF tool. This guide highlights both TIF and special assessment projects across the country and how they can be applied to address common economic development issues.
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New Members |
Niagara County Center for Economic Development - Sanborn, NY
Tullahoma Area Economic Development Corporation - Tullahoma, TN
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The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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